Adani Enterprises US$275m OFAC settlement in 2026

What the US Treasury announced

The US Department of the Treasury said it has agreed to a US$175 million settlement with Adani Enterprises Ltd over potential civil liability linked to US sanctions on Iran. The settlement relates to 32 apparent violations flagged under the Treasury’s sanctions enforcement framework. The announcement came from the Office of Foreign Assets Control (OFAC), the Treasury unit that administers and enforces sanctions. The matter is civil in nature, and the Treasury statement framed it as a resolution of potential civil liability. The development adds a major dollar figure to a set of US-facing legal and regulatory issues that have been in focus for the Adani Group since late 2024.

The transactions at the centre of the OFAC case

OFAC said Adani Enterprises purchased liquefied petroleum gas (LPG) shipments from a Dubai-based trader. The trader represented that it was supplying gas originating from Oman and Iraq. OFAC said the shipments had actually originated from Iran. The US action focuses on the sanctions risk attached to Iranian-origin products and associated payment and trade flows, including where transactions touch US financial systems. The Treasury statement described the case in terms of “apparent” violations, which is consistent with civil enforcement language.

Separate SEC settlement involving Gautam and Sagar Adani

In a parallel development, US court records showed the US Securities and Exchange Commission (SEC) settled a civil lawsuit against Gautam Adani. The proposed settlement is subject to court approval. Adani Green Energy confirmed in an exchange filing to BSE and NSE that Gautam Adani and Sagar Adani filed a request for entry of final judgment with the US Eastern District Court of New York on 15 May 2026 (India time) or 14 May 2026 (New York time). The filing also stated that Adani Green Energy is not part of those proceedings and that no charges have been brought against it in that matter. The settlement framework notes that the parties consented to final judgment without admitting or denying the allegations.

Penalties disclosed in the SEC civil case

The exchange filing outlined the proposed civil penalties under the SEC settlement. Gautam Adani agreed to pay a US$1 million civil penalty, while Sagar Adani agreed to pay a US$12 million civil penalty. The combined settlement amount is US$18 million, which was also described as approximately Rs 172 crore using Rs 95.80 per US dollar. The alleged conduct referenced in coverage related to representations linked to Adani Green Energy and an alleged bribery scheme, as described in court records. The settlement does not include an admission of guilt, based on the court-document description.

DOJ criminal case: report of charges being dropped

A separate report cited Bloomberg as saying the US Department of Justice (DOJ) is moving to effectively drop criminal charges against Gautam Adani linked to an indictment filed in November 2024. The New York Times and Bloomberg were also cited as reporting that those charges are likely to get dropped. The article text attributes this to sources familiar with the matter, and it was not presented as a final, official DOJ announcement. It also referenced that Adani has promised to invest US$10 billion in the US economy.

What Adani previously disclosed about the OFAC probe

Earlier disclosures said OFAC initiated a formal civil investigation into Adani Enterprises regarding potential violations of US sanctions on Iran. The investigation was linked to a Request for Information (RFI) received by the company via email on February 4, 2026. Adani Enterprises also disclosed it had voluntarily initiated engagement with OFAC in connection with allegations referenced in a Wall Street Journal article dated June 2, 2025. The company said it began discussions proactively, and that it was responding to the OFAC information request as part of an ongoing dialogue. As of February 10, 2026, it said the US government had not placed Adani Enterprises on the Specially Designated Nationals (SDN) list or levied fines on that specific matter.

Market reaction in Adani Group stocks

Adani Group stocks rose between 0.5% and 3.5% on 15 May 2026 as the SEC settlement details and the DOJ report circulated together. Adani Enterprises (NSE: ADANIENT) was up 1.6% at Rs 2,756 in early trade, after a pre-open peak of +3.2%. The move was framed as a response to reduced legal uncertainty, given the combination of the proposed SEC settlement and the reported DOJ stance. The reported financial cost cited in the text was US$18 million for the SEC matter plus approximately US$175 million for the OFAC matter.

Key figures at a glance

Why these developments matter for investors

The OFAC settlement is significant because it directly ties to sanctions compliance and trade-origin verification, areas that can affect banking channels, counterparties, and risk controls. The SEC settlement, while smaller in dollar terms, is closely watched because it involves the group’s top leadership and a US federal court process that still requires approval. The article also highlights that the OFAC investigation is distinct from the SEC civil case and the DOJ criminal matter. For listed Adani companies, the immediate investor focus has been on clarity around legal exposure, timelines, and whether proceedings broaden to additional entities.

What to watch next

The SEC settlement requires approval by the US Eastern District Court of New York, based on the filing referenced in the exchange disclosure. Separately, investors will track whether the DOJ formally confirms any decision on the November 2024 criminal charges. On the OFAC side, the US Treasury statement indicates a settlement has been reached, which brings the sanctions-related civil matter to a defined financial resolution as described. Any further updates are likely to come via court orders, official US agency communications, and stock exchange disclosures from the relevant Adani entities.